LEO: Trust Funds - Tax Identification Number LE Op. 599
Trust Funds - Tax Identification Number for Interest-Bearing Account.
June 18, 1984
It is not improper for an attorney to use his firm's tax identification
number, or to acquire a new tax identification number, for the purpose of
establishing a new interest-bearing account for substantial funds, when
the tax identification number of the principal beneficiary of the account
is unknown and said beneficiary is unavailable. Upon distribution, the
attorney should disclose to the beneficiaries that part of the
disbursement is interest income with tax consequences.
Committee Opinion June 18, 1984